Explore more Categories
Artificial Intelligence involves the science and engineering of developing intelligent machines
The manufacturing world is at a cusp of a new revolution that will redefine conventional business models
IoT will have a major impact on businesses and consumers in the future
The world is creating 2.5 exabytes of data daily
Our research seeks to connect-the-dots across multiple trends
Personal Robots are Set to Be a $19 Billion Market
Strategic Analysis of BREXIT and its Implications to Industries, Economies and Societies
Time for a Digital Revolution in the Women’s Health Market
iFrost is a digital platform for interactive and dynamic reporting of data.
The TOEs are a great source of information which gives corporates critical information on companies to action for their strategic investments either as an open source platform or to collaborate and to develop successful products
Current Scenario and Growth Prospects
save 25 %
* Required Fields
Pay by invoice
Medical tourism is a booming industry that allows foreign patients to cross international borders to avail necessary medical treatment. Rising healthcare costs, inadequate healthcare facilities, increase in accessibility of better healthcare services and increasing awareness of one’s personal health are factors which are driving the growth of this industry. Initially, the patients would only travel abroad for affordable healthcare facilities. Now the medical tourists are looking for the complete package of high standards of medical infrastructure facilities, skilled medical professionals, ease of communication regarding the treatment and with the staff, immediate treatment with practically no waiting time and overall environment of the chosen destination. In 2018, the global medical tourism market was valued at approximately USD 76 Billion.India has become a global medical tourism magnet, holding 18% of the total industry in 2018. India is gaining popularity amongst the foreign patients as a destination offering high quality and personalized medical care at affordable prices. The country is gradually becoming preferred because of highly skilled and qualified medical professionals and world class healthcare infrastructure. India has internationally accredited hospitals that assist and guide the medical tourists to make their travel experience smooth and hassle free. Apart from modern medicine, India is known for its traditional medical practices like Ayurveda, naturopathy and Yoga. The medical tourism market is expected to grow at an approximate rate of 25% annually from 2018. Most of the revenue generated from medical tourism is due to the private healthcare sector. Major healthcare providers like Apollo, Max and Forties are adopting recent technologies like artificial intelligence and integrating it with medicine. The cost of medical treatment in India is 65-90% lower than the US. Apart from healthcare facilities offered in the country, India is popular amongst the foreigners for its numerous tourists’ sites across the country. Growth of the medical tourism market is largely driving the revenue generated by dependent industries like aviation, transportation, food and hotels. This growth helps in increasing the overall employment opportunities in the country. The Central Government recognizes the medical tourism industry as potential revenue generating market. The Ministry of Tourism has taken many initiatives to promote this industry internationally. The introduction of the medical visa is one of the most effective initiative taken by the government to boost medical travel in India.The research deliverable provides a detailed insight on the medical tourism industry in India. It highlights key points and outlines reasons for the exponential growth of the industry. Frost & Sullivan is of the opinion that more adequate support from the government and tailor made policies specifically designed for medical tourists could lead to further growth of the medical tourism industry in the country. Author: Krishanu Banerjee
Frost Radar™ for Economic Development: Middle East, 2021
Global Wire Arc Additive Manufacturing (WAAM) Growth Opportunities
Transformational Macroeconomic Trends Shaping Developed Asia Until 2026
Central America and the Caribbean Shows Gradual Recovery from the Disruptive Impact of COVID-19
Autonomous Mobile Robots: R&D Portfolio Assessment
Growth Opportunities of Sensor Technologies for Automated Guided Vehicles
Neuromorphic Computing: Opportunity Analysis
Growth Opportunities of Metal Injection Molding Technology in Manufacturing
Growth Opportunities of Modular Reconfigurable Robots
Growth Opportunities in the Nepalese Online Food Delivery Market, 2019
functional food market
wireless charging market
commercial aircraft market forecast
fleet management market
wound care market
commercial aviation market
solar energy market
commercial lighting market
packaged food industry
dietary supplements market
Don't have an account? Create One!
Enter your Email Address here to receive a link to change password.
If you are an existing frost.com user, please register using the same email for seamless access
Already have an account? Login!
Use your Linkedin account to login or register within our store.You're just one click away.